Dive Brief:

• Conroy Development, a Boston-area firm, has the go-ahead from the city's redevelopment authority for a 304-apartment building and a 247-room hotel known as Parcel K in the downtown waterfront area.
• The announcement did not say what construction companies would do the work, which is expected to get underway this fall and wrap up in 2016.
• The overall project will create 480,000 square feet of built space on the 2.4-acre parcel and is expected to have a budget of $230 million.

Dive Insight:

Arrowstreet Architecture designed the project. It will have an 11-story residential building and a 10-story hotel component. The plans call for commercial space in both buildings. The apartment building will have 40 affordable-housing units and some micro apartments.